Bringing Environmentalism and Sustainability to the MBA

I’m currently in my fourth and final semester in the Wake Forest University Schools of Business (Formerly Babcock Graduate School of Management) Executive MBA program. Our capstone, of sorts, is known as the Management Practicum. Dan Fogle, our faculty sponsor, has set the requirement for this year that all of our team-based practicum projects must have a sustainability or environmental theme. There has been great enthusiasm among the cohort for this and I’m excited for my specific project.

Wake Forest University Schools of Business

I learned today that Wake Forest recently received accolades for its attention to sustainability by the Aspen Institute. According to the news release, The Schools of Business rank 43rd among the Global Top 100 Schools and have been among the top 50 since 2005. Projects, like our practicum and the hiring of a sustainability director are real signs of applying these themes to the curriculum in a meaningful manner. We had the opportunity to meet with Dedee DeLongpré Johnston, WFU’s new sustainability director this morning and lunch. She provided a good forum to validate the ideas of our projects, as she’s certainly been someone with her “ear to the ground” on these topics for a while.

The projects among the class certainly are wide of field, even within the scope of the “green” universe. Some of the topics include:

• Solar power rollout in the US and remote locations in Central America
• Lean manufacturing with a focus on reducing environmental impact
• Environmentally preferential sourcing policy development for municipalities
• Groundwater conservation in India
• Improving environmental impact of large data centers

I can’t talk much (yet) about my team’s project, but it involves Eco-labels such as Cradle2Cradle, LEED, and GreenSeal. The topic is actually very closely tied to this article from triplepundit. The question of whether government intervention is required as the impetus of implementing sustainable practices is a huge one. Our team is monitoring closely developments in the State of California, the EU, and China to come to a conclusion on this that might predict the strategic direction firms in all industries must consider. This is a matter of real business, whichever way this particular question falls. I’m pleased that I’ll be wrapping up the MBA in December knowing that we’ve tackled one of the most important business questions in my generation and all those to follow.

Social Media as Economic Development Catalyst

Mark W. Schaefer put together a nifty presentation on Social Media Best Practices For Economic Development (thanks @Handshake2.0 for the tweet heads-up) . A couple things stand out to me on this presentation. First, I love that Roanoke is used as the archetype for a Twitter-engaged business community. Second, while this presentation is targeted towards the economic development organizations, I think it does a great job of identifying the place where individual businesses should be operating in  the social media universe.

From the big picture perspective, a regional economy will be more attractive on the web only if there is an active community of businesses and representative individuals. It does no good for the EDO to tweet in a vacuum, for example. The networks of collaboration, and even competition need to be vibrant and public for social media to have an effect. This is a concept that I believe already resonates in this region.

Social Media Best Practices For Economic Development

View more presentations from Mark Schaefer.

Principled Leadership

I thoroughly enjoyed John Allison’s visit to our Executive MBA class at Wake Forest University this morning. Mr. Allison is the Chairman and former CEO of BB&T, and has recently joined the faculty at WFU.

John Allison at WFU, August 28, 2009

Mr Allison’s discussion was focused on the values that he help ingrain into the culture at the bank:

Reality (Fact-Based)
Reason (Objectivity)
Independent Thinking
Productivity
Honesty
Integrity
Justice (Fairness)
Pride
Self-Esteem (Self-Motivation)
Teamwork/Mutual (Supportiveness)

We had the opportunity to discuss the sub-prime mortgage crisis and how BB&T really got screwed by being forced to take TARP money. The real takeaways from the discussion, though, were the perspectives of a principled leader. The values described today seem on the surface like any other set of values you might see on any corporate bulletin board. When you study them in detail (and hear Mr. Allison describe them), it’s clear that these are the virtues of humanity, and not just a set of characteristics that might assist in business goals. The most poignant set of the values are the ones centered around objectivity and fact-based management. The most memorable quote from today’s session is that the number one reason a small business will fail is because the leader evades reality. You have to know your place in the real world around you.

BB&T has put a focus and premium on individualism, which could be a real risk. However, because the vision and goals are clearly defined and permeated through the organization, the individualism should ultimately lead to creativity and innovation, rather than anarchy. As Mr. Allison transitions to academia, I think he knows and can have confidence that his company is as well-poised to weather any shocks and disruptions as a company can be in these times. This is another example to me how the people in business are more important than any product or technology for ensuring long term value.

Insubordiation or Salvation?

I recently read an article in the August issue of Valley Business Front by Anne Clelland. Her article deals with the question of what to do with a “meddling” employee who frequently questions management and even goes as far as suggesting changes to the company mission statement. Anne’s advice for this situation is:

The greatest gift leaders can give their employees is to draw a clear line between employer and employee, designate who’s to do what, and do the leader’s side with authority, credibility, and consistency….and lead the company so well that the meddlers can stop worrying about whether they’re the coach or you are, and be the true team players you hired in the first place.

My thoughts immediately went in an opposite direction.

In my mind, there are two likely reasons for an employee to “meddle” – 1) They actually have good ideas and are looking to take ownership in their organization, or 2) Management really has no idea what they are doing or hasn’t clearly communicated the vision. In both cases, the meddler is really an asset. The question is how do you capitalize on it.

In the first case, the employee is an idea factory. The mutual frustration exhibited would stem from a lack of a meaningful outlet . I’m not saying any employee in any company should be allowed a seat at every board meeting, but any employee in any company of any size should have a clearly defined path of influence on their area of responsibility. There are plenty of examples in many industries of this in action – line workers suggesting better locations for tools for increased efficiency, bus boys suggesting new recipes, and so on. If the CEO’s suggestion box is full, it’s probably because the lower level managers aren’t listening to their direct reports.

The second case likely stems from a lack of company identity. Perhaps an employee suggests a new mission statement because they have no connection to the current one. Communication of the mission and vision is much more than simply repeating it in email signatures or putting it on banners. The mission needs to be real. If a manager has to “draw a line” because they are challenged, it’s because the common goal is unclear. In a case where you might be tempted to say the meddling employee simply doesn’t fit and should be removed, you must think of why that employee was hired to begin with. It probably has something to do with an ill-defined culture and corporate mission.

In today’s world, no company, from a mom and pop grocer to a mega-conglomerate, can rest on their laurels that what get them here will be what keeps them in business 2 years from now. Cycles and spin-up time for new technologies are short and getting shorter. Companies can no longer “do one thing and do it well”. The new strategy should be “do one thing, and figure out the next way to do it better before the next guy does”. One of the best chances a company has to adapt and prosper is to act on good ideas. Stifling an enthusiastic employee with an “I’m the boss” defense is akin to shooting yourself in the foot.

The Greatness of the Retweet

I noticed some interesting news this evening on TechCrunch – Twitter is working on formalizing the retweet. For the uninitiated, a retweet is a rebroadcast of some other person’s comment or tweet on Twitter. It usually begins with “RT” followed by the username of the person who originated the comment. I would retweet if I read something interesting and I thought my followers would also find it interesting. The structure ensures attribution of the original thought and I think the whole concept is what really makes Twitter a community.

A typical "Retweet"

My first reaction is that the formalization would be a shame. I have always appreciated the grassroots nature of this construct. Until now, retweeting was something developed informally by the users, not a tool provided by Twitter itself. Obviously, given the 140 character limit of tweets, the mechanism had to be brief, and I think this ad-hoc system is about as efficient as it could possibly be; which is why the founders are making a change.

On second thought, I’ve warmed up to the idea. It would certainly clean up the content and make it more readable. My Facebook friends love to rag on me for my seemingly unintelligible retweets because I set my Facebook status to my last tweet. I suppose, retweets would no longer be treated like a standard tweet to API users such as the Facebook connect guys, and would be more like replies. This is a collateral impact the founders and the community should start thinking about. Twitter’s value is in the broadcast, so it would unwise to diminish this.

It’s commonly known, at least in business school circles, that the only marketing metric really worth tracking is your promoter score. Every retweet, essentially, is a positive vote of confidence and an endorsement to the originator. The local tech council, the NCTC, clearly realizes this with their “The Great Retweet” promotion for an upcoming event (which my company, Vision Point Systems will be attending). Would this campaign be as fun, effective, or interesting with the new retweet format?

If the new feature helps content creators gather these metrics, it’s worthwhile. If it weakens the effectiveness of the retweet process, it could be disasterous.

RoanokeOutside.com to be Interesting Mix of Reference Material and Community Interaction

If you’re a Roanoker, you may have heard about the launch of RoanokeOutside.com. It’s been well publicized on Twitter, Facebook, and now some other media outlets such as Star City Harbinger and WSLS. Beth Doughty, Executive Director of the Roanoke Regional Partnership does a good job summarizing the site in their latest press release:

“Making the outdoors an important part of our region’s narrative starts with a comprehensive Web site that catalogues our natural resources and makes it easier for people all over the world to learn about and enjoy our region’s natural resources.”

My company, Vision Point Systems, is behind the development of this site. We have an interesting task ahead of us balancing the demand for an objective catalog of the region’s offerings with the desire to build a dynamic community of outdoor enthusiasts and casual participants. This is one of those instances where social media can seem like a buzzword. It’s tempting to decorate the page with Twitter feeds, Friendfeed streams, etc. There’s a real risk of getting too hung up on the social aspect and burying the real purpose of the site. There will be some much needed traditional web features such as a hiking trail database, links to local outfitters, events lists, and other guidance and tips. The last thing we want to happen is create a feeling of exclusivity because of a passionate core group of outdoor enthusiasts.

The great part about the process we’re going through is that we’ve launched the site as a completely temporary entity to act as a preview and feedback mechanism. We’ve got a clear deadline set for Sept 30 to get the real thing built and we’re thrilled about the buzz the site is getting so far.

The RoanokeOutside.com temporary page

I’d personally welcome feedback on this subject, but the best course of action is to take the survey on the site itself!

Location Irrelevance and the Cloud – Handshake 2.0

I have a new guest piece on Handshake 2.0 today. Let me know what you think.

The point I make at the end is critical. “The Cloud” is most certainly a buzzword with a fuzzy meaning a la “Web 2.0″. The idea behind the term is real, but it’s not for everyone. Every business is going to have its own compatability profile for deciding to offload services like email to Google Apps or Rackspace, or data storage to Amazon, etc. Companies who are proficient at IT, should be able make these determinations on their own. Most other companies do something other than IT, and this is a scenario where a consulting company (Shameless Plug Alert) like Vision Point Systems can help.

Twitter Got Me to Vote Today

I voted in the Virginia Democratic Gubernatorial Primary this morning. I can honestly say I wouldn’t have done that if I weren’t on Twitter/Facebook, etc. Somewhere along the way I saw a targeted add on Facebook for Terry McAuliffe, one of the Democratic Nominees, so I became a fan. I’ve always had a casual interest in politics, and make it a point to vote in November. I’ve never voted in a primary, though.

While Mr. McAuliffe’s Facebook page got the topic of the race on my mind, I don’t think I’ve visited the page since. It did bring me to search for related chatter on Twitter though, soon I was following him and the two other candidates, Creigh Deeds and Brian Moran, as well as a host of regional pundits such as FakeVirginia and VAGovernor. For the candidates, it was great to see the personalities come through. For the pundits, I didn’t always agree, but it’s a great forum for discussion.

There’s been much discussion about social media in the Obama Campaign. My cohort, Brian Gracely, wrote about it for a marketing class in the Spring. I know in my case, that whole campaign did nothing to change my mind one way or another. (Perhaps I wasn’t the target).  The use of Twitter in this context – a lower level election – is intriguing. I think this is the real effect Social Media can have on an election – personality connection and real-time interactive feedback. The presidential election is too grand to notice any real impact of these new tools. It seems obvious that this will be a trend going forward. I think there’s an interesting distinction to be made for the scale of the election.

People always ask me what the point of Twitter is. I think this is one concrete example I can give in the future. It only works if people participate, however.

Why People Like Robert Scoble Matter

As has been well published in the local Twitterverse/Blogosphere, Robert Scoble visited Blacksburg, VA yesterday. For those who don’t know who he is, Handshake 2.0 has a good summary. The RNR has had a budding Social Media footprint for a while now, but the visit from Mr. Scoble is one of the few events that ties us back to the Internet ground zero of Silicon Valley.

Why is this noteworthy? Well, stemming from his interview with the Roanoke Times yesterday, a bit of a communication issue arose involving the web presence of the restaurant where the event occurred.   There’s a good discussion on Robert’s friendfeed. The issue to me centers around an “old-media” perspective on Internet marketing. Robert suggested that the chef should communicate with customers about the menu. The reporter interpreted this as the restaurant needs to post its menu on the website. Being that the website already contains the standard menu, the restaurant took offence and a rather awkward correction is added to the end of the article.

To me, this is a teachable moment, and an example of why we need “high-tech evangelists” like Mr. Scoble. Most of us who are tuned into social media would have known exactly what he meant – the chef should reach out to customer’s collaboratively in real time and develop a dynamic menu that reflects timely feedback. The unfamiliar interpreted the suggestion in a very flat manner. I hope, as a result of the continued discussion of the matter, that the light goes on in many new people’s heads as to what the collaborative web is all about.

Fighting the Twitter Time Shift

After a few months of posting blog entries, I’m still building a base following of interested readers. I’ve been pleased with how Twitter provides a broadcast medium for notifications of new posts.  My worry though, is that I tend to only have time to write these posts in the evening or late night and if I send a tweet to announce it it may never be seen. I think my target audience is fellow business people. Is this group more likely to check their Twitter feed at night, or during the work day?

I call this the Twitter Time Shift because compared to something like RSS which is sticky, tweets seem to have a brief shelf life, especially if the follower has a large list who she follows. There’s a phenomenon here that needs to be fleshed out more.

I suppose I’m looking for feedback.

If you were interested in reading my posts, would you be more likely to see my tweet in the morning or evening?

Is there any stigma to a repeat tweet spread over time? Does it become spam when content is duplicated? What are the time boundaries on this?

I’ll tweet this now, and again in the morning and see what happens. I’m interested to hear comments on the above questions as well as a general review of the content I’ve produced to date.

Thanks!